I'm still bullish on LTC long-term, especially given it's strength in the crypto down-draft from a few weeks prior. The technicals look challenged right now when you look at a longer-term picture (see graph). Any significant weakness I'll use as an opportunity to add to my LTC/USD long.
That is definitely and H/S. Thanks for posting, I was not looking at the Daily chart. Won't be confirmed until about what, 37-38?
Wombus
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@Deltab3-321, 37 sounds about right, it’s strong support so if we can’t hold 37 there’s a lot to open air to next support at about 29. Barring any fundamental changes to the LTC story I’d be elated to have the opportunity to buy LTC sub-30
guppy_
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@Wombus, ditto. I would sink quite a bit into LTC at $29-30.
Wombus
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@guppy_, we may get out chance sooner rather than later if this dumping at the bid continues.
Calm-Monk
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What if it goes up? Will that deny H&S pattern?
Wombus
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@Calm-Monk, I think if we can trade over 50, which aside from being an important psychological level, it would clear the first shoulder of the pattern and would probably give the bears some pause. It’s definitely a possibility given LTC’s resilience compared to the orther cryptos.